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Bankrupt and beaten-up issuers haven't stopped the rise of their “zombie tokens”

A look at the trending narratives across Terra Classic communities and who is pushing them.

Proposal 11310 by Terra Classic core developer Edward Kim has unanimously passed the threshold. The proposal aims to upgrade the blockchain from v1.0.4 to v1.0.5 and introduces codes to make future upgrades possible.

While the former two are in the headlines due to recent changes in their ecosystem, Snowfall Protocol (SNW) is all the rage due to its functionalities and potential.

LUNC, the ticker for the Luna Classic cryptocurrency that powers the original, but now largely defunct Terra blockchain, is up an impressive more than 40% from the lows it printed back in December under $0.00013. LUNC/USD was last changing hands in the $0.00017s, a little under recent highs in the $0.00019s, with the bulls still struggling to push the cryptocurrency back to the north of its 100 and 200-Day Moving Averages.

For the last four trading sessions, the momentum and volatility of Luna Classic price have died out, which has seen it start sideway trending

The Terra community reveals a reimbursement plan for LUNC investors who lost a massive amount of fees after the tax burn activation during September 21-28, 2022. 

The Terra Luna Classic (LUNC) ecosystem has put in place measures to reimburse community members that were affected by the network failure between September 21 and 28, according to core developer Edward Kim. Notably, the Terra Luna Classic network failure caused tax to be incurred on transactions that did not happen.

Terra Classic core developer Edward Kim has come up with another proposal for the community. The proposal aims to reimburse lost fees during the period of September 21-28 last year, after the 1.2% tax burn was activated on the Terra Classic blockchain.

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during the two snapshots on Terra Classic.

The entire crypto market has been recovering from the selling pressure. Since the beginning of the year, the price of Terra's Luna Classic rose by 16% before bears stepped in.

Crypto Prices Today: The crypto market continues to trade partially in red as Binance linking with Bitzlato financial crimes has impacted the market. Some significant coins are increasing in the last 24 hours, however, others are still slightly down.

Total Terra Classic (LUNC) tokens staked on the network reaches over 900 billion as utility slowly returns to the blockchain. After much effort from the Terra Classic community and developer groups, LUNC staking has increased with projects building on chain and investors staking with validators.

The Terra Classic community has started voting on another crucial Proposal 11310. The proposal is put forward by Terra Classic core developer Edward Kim to software upgrade the blockchain from v1.0.4 to v1.0.5.

Just this January 14th, LUNC just went through its network upgrade that was supported by Binance. The upgrade was due to several developments on-chain.

The Terra Classic community has burned over 16 million LUNC tokens in a week amid the push to increase the burn rate. In order to raise the burn rate, Terra Classic validators and projects aim to burn billions of Terra Classic (LUNC) in 2023.

Shiba Inu (SHIB), ApeCoin (APE), and LUNC gained new support in January as Australian crypto exchange Cointree lists them on its platform. Cointree announced the news via Twitter recently.

Since the start of the year, the value of Terra Classic (LUNC) has surged, with bulls overpowering the bears after weeks of sideway treading. The price movement can be considered positive, as the asset is still attempting to earn viability in the crypto space after the infamous collapse of Terra (LUNA) ecosystem.

Cointree, one of the oldest Australian crypto exchanges, grows further with SHIB, LUNC, and APE listed for trading.

The Terraport project will comprise a decentralized exchange that will allow users to trade assets on-chain as well as cross-chain.

Terra Classic price is building momentum to correct a 3% dip recorded in 24 hours. Before the pullback to 0.0001720, LUNC traded new 2023 highs of $0.0001936. With support at $0.0001720 staying intact, Terra Classic price might push for the resumption of the uptrend during the American session.

The LUNC coin approaching the peak of an ascending triangle pattern indicates a price breakout is nearby. Amid the ongoing recovery sentiment in the market, an upside breakout from the pattern's neckline resistance will release the bullish momentum.

The autonomous development arm's Terraport concept encourages Terra's involvement in DeFi and creates a LUNC Decentralized Exchange (DEX). This shows that the Terra community still cares about Terra Classic [LUNC].

Luna classic is up by 23 percent for the month, reversing its long-term bearish trend, which comes amidst a new industry-wide bullish trend.